In today's FT: Ballmer shakes up Microsoft structure, Markets calme...

If this email is not displayed correctly, please click on the following link or open your browser and paste the link into the address field: http://view.ed4.net/v/G8OTZZ/3CNUJ5/1JR63V/D4L0IN/   In today's FT Friday July 12 2013 UK Homepage   Ballmer shakes up Microsoft structure Push to position the software company better to come up with new computing experiences that take advantage of the mobile devices and services http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/JQ272X/OS/h?a1=2013&a2=7&a3=11   Markets calmed by 'dovish' Bernanke Federal Reserve chairman's insistence on a long period of monetary accommodation helped US stocks to levels above their previous record close http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/3CNU30/OS/h?a1=2013&a2=7&a3=11   Lloyds sell-off could start in September A 5-10 per cent stake in bank could be placed with institutional investors at small discount to share price. Insiders expect sale completed by 2015 http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/OF5X4P/OS/h?a1=2013&a2=7&a3=11   Financial Times - US homepage   Transatlantic swaps deal averts crunch Truce in the turf war over policing derivatives removes uncertainty for dealers such as Barclays and Deutsche Bank over who regulates them http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/LSZ57H/OS/h?a1=2013&a2=7&a3=11   'Debt peril' threatens 1.25m households Resolution Foundation says many more will have to spend half their disposable income on repayments by 2017 if mortgage rates increase http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/K9AMZ3/OS/h?a1=2013&a2=7&a3=11   Austerity to take gloss off China's games President Xi Jinping's austerity campaign hits China's largest, highest-level national sports competition, with the budget for the event cut by 75% http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/XBQJ9B/OS/h?a1=2013&a2=7&a3=11   Financial Times - Europe homepage   China accuses GSK of bribing officials Beijing accuses GlaxoSmithKline of being at the centre of a 'huge' scheme to raise drug prices illicitly and bribe government officials http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/T1DEYW/OS/h?a1=2013&a2=7&a3=11   Egypt faces economic moment of reckoning Gulf money could buy the interim government six to 12 months of breathing space but without reforms the funds could exacerbate the country's woes http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/JQ272K/OS/h?a1=2013&a2=7&a3=11   BP registers as US swaps dealer The oil major is the first energy company to acknowledge its size and role as a derivatives trader are large enough to trigger strict regulatory oversight http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/GY02CH/OS/h?a1=2013&a2=7&a3=11   Financial Times - Asia homepage   Negotiators pin hopes on customs deal Some see this as one area where US and EU officials could find common ground within a few rounds of negotiations http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/ULYQIZ/OS/h?a1=2013&a2=7&a3=11   Russia convicts dead lawyer Magnitsky Court ruling on the investment fund lawyer who died in jail will further undermine Russian President Vladimir Putin's reputation in the west http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/1OR3FQ/OS/h?a1=2013&a2=7&a3=11   World News   Senators seek bank reform on Glass-Steagall lines Combined, the bills have put Wall Street banks on the defensive in Washington, despite the fact that neither is likely to advance in this Congress http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/B4B6GY/OS/h?a1=2013&a2=7&a3=11   Portugal president's unity call backfires Aníbal Cavaco Silva's proposal of a 'national salvation' agreement prompted a fresh increase in bond yields and hit share prices http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/Z8SFSU/OS/h?a1=2013&a2=7&a3=11   EU eyes sanctions for democratic breaches Tensions between the EU and Hungary reach a new high with Budapest accusing the EU of meddling in its sovereignty, likening it to the Soviet Union http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/VTI9EU/OS/h?a1=2013&a2=7&a3=11   Brussels bank move seen as 'enabling act' Comments reflect deep German concern the commission has overstepped its powers with a proposal to make itself the top authority for winding up eurozone banks http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/A5H8B7/OS/h?a1=2013&a2=7&a3=11   Karadzic genocide charges reinstated The decision cuts against the grain of the court's acquittal in May of two senior Bosnian Serb officers who had been charged with organising ethnic cleansing http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/HICAVT/OS/h?a1=2013&a2=7&a3=11   Companies news and analysis - FT.com   Invensys receives Schneider bid approach French power equipment maker in talks with UK engineer on deal that values the group at £3.3bn after it has long been the focus of takeover speculation http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/YG9RSA/OS/h?a1=2013&a2=7&a3=11   G4S and Serco face loss of contracts The two FTSE 100 listed companies hold millions of pounds worth of government contracts, but the future of these is looking uncertain http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/1OR3FF/OS/h?a1=2013&a2=7&a3=11   Telecom groups raided in EU probe Deutsche Telekom, Orange and Telefónica investigated over whether they abused their position to 'throttle' data-heavy services such as YouTube http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/T1DEYD/OS/h?a1=2013&a2=7&a3=11   Batista empire hurt by board departures Brazil's once-richest man faces scrutiny by the country's securities watchdog, which is pursuing almost 20 inquiries into his companies http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/4V313H/OS/h?a1=2013&a2=7&a3=11   Repsol gains Spanish court case over YPF Oil group hails ruling allowing a Madrid judgment, as it continues its fight against Argentina and those it claims benefited from subsidiary's seizure http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/52PLUA/OS/h?a1=2013&a2=7&a3=11   Markets   Bulls ride Bernanke bounce Equities gain after Fed chairman indicates the US is in no rush to turn off the liquidity tap, but Japan's Nikkei underperforms as yen strengthens http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/GY02CR/OS/h?a1=2013&a2=7&a3=11   Feedback loops heighten risk of contagion Regulators and investors alike need a better understanding of interconnections and how they might change, harnessing the powers of Big Data to do so http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/YG9R9F/OS/h?a1=2013&a2=7&a3=11   Shrinking oil spreads shake crude trade Traders ask whether this week's fall in the spread to below $2 a barrel means the prices of Brent and West Texas Intermediate will revert to parity http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/MJ747X/OS/h?a1=2013&a2=7&a3=11   Homebuilders drive US stock rally The S&P 500 is on track to close at a record high after the Fed suggests it is in no hurry to raise interest rates, helping homebuilders to rally http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/T1DEY5/OS/h?a1=2013&a2=7&a3=11   Wheat rallies on raised China forecast Country is expected to become the second largest wheat importer after Egypt as it looks to overseas markets to meet rising food demand http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/CWGO8Y/OS/h?a1=2013&a2=7&a3=11   Financial Times - Comment   The imperative that keeps the US in Asia By leaving, the US would invite chaos and worse; by staying it provokes deep Chinese resentment. The American presence has become dangerous http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/ULYQIK/OS/h?a1=2013&a2=7&a3=11   Merkel's 'deutsche Michel' ploy is flawed The German chancellor's stance is simply not credible. It rewrites history, pretending the project for a single currency did not have fiscal implications http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/7Z1H1C/OS/h?a1=2013&a2=7&a3=11   The real target that Carney should aim for Central bank lending rates are intermediate creatures. They are only a means to an end: the commonly agreed goal of non-inflationary growth http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/B4B6G3/OS/h?a1=2013&a2=7&a3=11   US leads the metropolitan revolution The legacy of the Great Recession will be the redistribution of power in the US and elsewhere to cities that drive their national economies http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/NRMW57/OS/h?a1=2013&a2=7&a3=11   The problems with the MPs' pay deal There is no science to the proposed £74,000 salary but as a piece of art it has received a reaction akin to the revealing of Duchamp's lavatory http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/1OR3FC/OS/h?a1=2013&a2=7&a3=11   Financial Times - Management   Spreading ink beyond the skin Tattooists are expanding from body art and using their skills to collaborate with luxury brands, as artists try to maintain the individual touch http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/SUKIDV/OS/h?a1=2013&a2=7&a3=11   When your electronic assets go underwater Reviews of devices that can withstand sun, sand and surf, and cases that offer protection for your regular gadgets when exposed to hostile environments http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/IEVZ2U/OS/h?a1=2013&a2=7&a3=11   Lycra ettiquette for bicycle commuters Cycling for work is increasingly common but rules apply, such as avoiding boring route talk and knowing when and where it is permissible to wear bike gear http://link.ft.com/r/G8OTZZ/T15BJN/HDGAS1/VTUZIJ/4V31PX/OS/h?a1=2013&a2=7&a3=11   Special Reports - FT.com Responsible Business Aerospace Mexico Infrastructure FT Wealth The Business of Formula One Video Lex Lenovo on top of the world Lenovo is now the top PC maker in the world by volume, but it is operating in a shrinking market. 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